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Hawkish FOMC minutes sent the US yields high and stock indices lower yesterday. Happily, Nvidia announced another set of strong quarterly results and forecasts. The shares popped 6% in the afterhours trading – a bit less than 8% expected.
Qualcomm, on the other hand, extended gains past $200 per share as they will power Microsoft’s and Dell’s AI-focused computers.
In the FX, the US dollar gained on hawkish Fed minutes but sterling gained more after the British PMI Sunak announced a general election on 4th of July, waning expectations of seeing the Bank of England (BoE) cut rates in June....

Will see an Ethereum ETF today or will we see a market and SEC rejection?

00:00 Intro
00:19 Preview
00:41 Bitcoin
04:21 Ethereum
06:39 Tether
07:40 Subscribe & Good bye

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Federal Reserve’s (Fed) Christopher Waller gave a C+ to the latest US inflation data, saying that it’s ‘far from failing but it’s not stellar’. Equity investors, however, continue giving the US stock indices a big, fat A+ on robust earnings, yes, but also on hope that the Fed could cut rates one, or two times this year, although there is not much conviction regarding the feasibility of the latter policy easing given that the first three months of the year warned that inflation’s path toward the Fed’s 2% will be all but smooth. So the risks prevail, but the FOMO...

The week kicked off with quite a solid appetite, especially for commodities. Gold and copper advanced to fresh record while silver soared past $32 for the first time in more than a decade. The gold-silver ratio, also called the mint ratio, tanked to the lowest levels since January 2022 as gains in silver outpaced gains in gold. Silver has room to gain against the yellow metal if the reflation narrative remains a major driver.
In energy, crude oil finds it hard to clear a major resistance near $80pb, while nat gas prices are finally picking up the momentum that many...

Equity bulls around the globe celebrated in style the softer-than-expected US CPI data last week. The global equity rally was further juiced by the expectation that a softer inflation in the US would not only allow the Federal Reserve (Fed) to start cutting the rates this year, but also allow the other major central banks, like the European Central Bank (ECB) and the Bank of England (BoE), to carry on with their plans to cut their own rates and – maybe – cut more than people think they could.
Global stock indices refreshed record, treasuries gained and the USD fell....

All major US indices advanced to fresh ATH yesterday; the S&P500 and Nasdaq 100 traded at the uncharted territory, while the Dow Jones Industrial index hit the 40’000 mark for the first time. Data showed weakness in economic activity and jobless claims hinted at loosening jobs market (although the Federal Reserve (Fed) members called for patience before rate cuts.
In China, industrial production rose more than expected, and we discuss in this episode why Chinese growth is not good news for US inflation…
In the FX, the USD index rebounded against most majors, the EURUSD sold off from an early...

All’s well that ends well. US inflation came in line with expectations yesterday; core CPI fell for the first time in six months and the monthly CPI figure was a bit lower than expected. Cherry on top, retail sales stagnated in April and came to cement the idea that the US economy could be finally slowing. The combination of slowing growth and softer inflation is a godsend for equity markets who needed this boost; there is nothing more appetizing for investors than the smell of lower future rates. The US yields fell, equities rallied and the USD depreciated.
While the...

Yesterday was one of those days when investors insisted on seeing a glass that was one-tenth full as completely full.
The US producer price data came in higher than expected. US President Joe Biden announced eye-watering tariffs on Chinese imports – that’s inflationary – and the Federal Reserve (Fed) President Jerome Powell called for patience, again yesterday, and said that they did not expect the inflation battle ‘to be a smooth road’ but that the numbers ‘were higher than anybody expected’, and that it will probably take them ‘longer… to become confident that inflation is coming down to 2%’. Indeed,...

The major story of Monday was a renewed rally in Gamestop and AMC shares after Keith Gill, aka, Roaring Kitty, posted on X for the first time since 2021. The moves revived the 2021’s meme nostalgia, but the meme stocks will unlikely see their original glory.
Overall, the major indices in Europe and the US across traded rangebound near their ATH levels and the US dollar index fluctuated a touch above the 105 level ahead of the US and European inflation updates that will start flowing in today.
This week’s inflation updates should maintain the ‘diverging inflation dynamics’ narrative live,...

The FTSE 100 and the Stoxx 600 index closed at a fresh ATH on the back of rising dovish central bank expectations. The EURUSD bounced lower from the 50 and 200-DMA, while Cable tested its own 200-DMA to the upside on the back of strong GDP read, but the currency pairs need good news from the US inflation front to clear key resistances this week.
Happily, the crude oil chart gives some hope regarding the energy inflation. The barrel of US crude fell 1.75% on Friday and slipped below the 100-DMA. The price of a barrel has been unable to...